Militia Capital Management LLC Invests $788,000 in MGIC Investment Corporation $MTG

Militia Capital Management LLC acquired a new stake in shares of MGIC Investment Corporation (NYSE:MTG) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,000 shares of the insurance provider’s stock, valued at approximately $788,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of MGIC Investment by 31.3% during the 4th quarter. AQR Capital Management LLC now owns 11,616,282 shares of the insurance provider’s stock valued at $339,428,000 after buying an additional 2,771,533 shares during the period. Geode Capital Management LLC grew its holdings in shares of MGIC Investment by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 5,371,470 shares of the insurance provider’s stock worth $163,368,000 after acquiring an additional 146,589 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of MGIC Investment by 1.0% in the fourth quarter. Allianz Asset Management GmbH now owns 5,010,157 shares of the insurance provider’s stock worth $146,397,000 after acquiring an additional 48,064 shares during the period. First Trust Advisors LP increased its position in MGIC Investment by 1.7% during the fourth quarter. First Trust Advisors LP now owns 4,609,318 shares of the insurance provider’s stock valued at $134,684,000 after acquiring an additional 76,306 shares during the last quarter. Finally, Northern Trust Corp increased its position in MGIC Investment by 10.7% during the third quarter. Northern Trust Corp now owns 4,561,398 shares of the insurance provider’s stock valued at $129,407,000 after acquiring an additional 441,809 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings raised MGIC Investment from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 7th. Barclays lowered their price objective on shares of MGIC Investment from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Keefe, Bruyette & Woods boosted their target price on shares of MGIC Investment from $28.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, April 10th. Finally, Royal Bank Of Canada started coverage on shares of MGIC Investment in a report on Friday, May 22nd. They set a “sector perform” rating and a $28.00 target price for the company. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, MGIC Investment has an average rating of “Hold” and an average price target of $28.25.

MGIC Investment Price Performance

NYSE MTG opened at $28.99 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 12 month low of $24.69 and a 12 month high of $29.97. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 2.00 and a beta of 0.67. The company’s 50 day moving average is $26.93 and its two-hundred day moving average is $26.90.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The business had revenue of $297.08 million during the quarter, compared to analyst estimates of $303.12 million. MGIC Investment had a net margin of 59.63% and a return on equity of 14.01%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, research analysts anticipate that MGIC Investment Corporation will post 3.05 earnings per share for the current year.

MGIC Investment Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Wednesday, August 5th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.68 annualized dividend and a yield of 2.3%. This is an increase from MGIC Investment’s previous quarterly dividend of $0.15. MGIC Investment’s payout ratio is currently 19.05%.

MGIC Investment declared that its board has authorized a stock buyback program on Thursday, April 23rd that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 12.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at MGIC Investment

In other news, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $25.38, for a total value of $761,400.00. Following the transaction, the chief operating officer directly owned 560,951 shares in the company, valued at $14,236,936.38. The trade was a 5.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paula C. Maggio sold 20,937 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.55, for a total value of $534,940.35. Following the completion of the transaction, the executive vice president directly owned 169,620 shares of the company’s stock, valued at approximately $4,333,791. This trade represents a 10.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.34% of the company’s stock.

About MGIC Investment

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.